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Bajaj currently has the Chetak premium electric scooter in the EV segment.
Bajaj currently has the Chetak premium electric scooter that competes with the likes of Ather 450X, Ola S1 Pro, and others. Bajaj has now created a subsidiary of the same name, Chetak Technology, to endeavour its EV ambitions.
Bajaj Auto's top executive, Rakesh Sharma, commented on the company's EV ambitions and highlighted that it would want to maintain a healthy synergy between its ICE-powered portfolio along with upcoming EV products. According to Sharma, outright changes in strategies are not necessary and hence the company has reservations against going all out with its EV offerings.
Chetak Technology which has been established as a branch under the company's umbrella will tackle the EV space both in the country and abroad. Sharma also mentions that even if by 2030, half of the new bikes sold are EVs, the other half will continue using ICE power.
Bajaj has also planned a vertical and a horizontal growth plan for the EV market. The executive hinted at sub-segments that could be created under the Bajaj Auto or Chetak Technology banners. It could be executed in the form of electric two-wheelers under the Pulsar brand while RE-badged EV three-wheelers can also be expected. It has also been brought to light that KTM is eager to make an electric motorcycle while Husqvarna will make an electric scooter. According to the company, its British partner, Triumph, is currently not in talks for an EV yet.
Bajaj could adapt the existing Pulsar lineup to create electric vehicles that could use similar mechanical hardware and have little to no cosmetic differences. Bajaj could create an entire portfolio of EV Pulsars for the Indian market and markets abroad.
Chetak Technology also holds plans for a global expansion and their focus would primarily lie in ASEAN markets. The ASEAN market is a big space where Bajaj's smaller capacity bikes could do well and so could scooters. With supply chain stabilisation on the horizon post the pandemic, Bajaj could be eyeing a sizeable chunk of the international market.